Treasury

12
Sep

New agreement an important step in Queen Victoria Market revitalisation

Treasury Portfolio

The Victorian Coalition Government has signed an agreement confirming the Victorian Government's contribution to the redevelopment of Queen Victoria Market (QVM), signalling a further step forward in the renaissance of the city’s beloved Market site.

Assistant Treasurer Gordon Rich-Phillips said the signing of the land transfer agreement with the City of Melbourne paved the way for the Council to implement its QVM revitalisation project.

“The Victorian Government has contributed two parcels of Crown land to Council under terms which will ensure more than a hectare of public open space will be the centerpiece of this exciting renewal,” Mr Rich-Phillips said.

“This is set to revitalise the market, the renewal of which will see better stalls and facilities for traders and shoppers.”

Mr Rich-Phillips said the project will deliver significant benefits to Victoria through the creation of jobs during the construction phase, as well as the longer-term benefits of increased patronage and a subsequent boost to the city’s economy.  

“The QVM is an iconic attraction for both shoppers and visitors, offering a wonderful space to enjoy a variety of foods and cultural experiences with family and friends,” Mr Rich-Phillips said.

“The QVM currently attracts more than 10 million visitors who spend more than $155 million each year. The renewal project will help to build on current patronage, with forecasts of more than 17 million visitors by 2031.

“Since 1878, the QVM has been a lively shopping and cultural hub for Melbourne’s CBD. The Napthine Government’s contribution of Crown land will ensure the City of Melbourne can breathe new life into it and ensure it continues to have a very bright future for generations to come.”

Lord Mayor Robert Doyle thanked the Victorian Government for its contribution.

“The renewal of the Queen Victoria Market presents a once in a century opportunity to create one of the world’s great market precincts. I thank the Victorian Government for supporting the City of Melbourne’s vision.

“We are on the way to developing a draft master plan and the next phase of community engagement will run from the start of December until the end of February next year. 

“People will have the opportunity to gain an understanding of the benefits and constraints of various renewal options, including the car park, storage, open space, road configuration and the southern market site including the Franklin Street stores,” the Lord Mayor said.  

Media contact:   Andrew Drever 0409 580 996 andrew.drever@minstaff.vic.gov.au 
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